Tag - Gifi

Famous Daves of America Inc. (Nasdaq:DAVE), Texas Capital Bancshares Inc. (Nasdaq:TCBI) and Acorda Therapeutics Inc. (Nasdaq:ACOR) are among the biggest percentage gainers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: iRobot Corp. (Nasdaq:IRBT), Vitran Corp Inc. (Nasdaq:VTNC), NetGear Inc. (Nasdaq:NTGR), Monarch Casino & Resort Inc. (Nasdaq:MCRI), Spire Corp. (Nasdaq:SPIR) and Gulf Island Fabrication Inc. (Nasdaq:GIFI).

Heritage Financial Group (Nasdaq:HBOS), Gulf Island Fabrication Inc. (Nasdaq:GIFI) and GMX Resources (Nasdaq:GMXRP) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: GMX Resources Inc. (Nasdaq:GMXR), Peapack Gladstone Financial Corp. (Nasdaq:PGC), Dynamic Materials Corp. (Nasdaq:BOOM), Albany International Corp. (Nasdaq:AIN), Colony Bankcorp Inc. (Nasdaq:CBAN) and Penn Virginia Corp. (Nasdaq:PVA).

Fuel Systems Solutions Inc. (Nasdaq:FSYS), Gulf Island Fabrication Inc. (Nasdaq:GIFI) and Macerich REIT (Nasdaq:MAC) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: GMX Resources (Nasdaq:GMXRP), Pinnacle Entertainment Inc. (Nasdaq:PNK), Dynamic Materials Corp (Nasdaq:BOOM), Penn Virginia Corp. (Nasdaq:PVA), SL Green Rlty REIT (Nasdaq:SLG) and Hawk Corp. (Nasdaq:HWK).

Hallwood Group Inc. (Nasdaq:HWG), Blount International Inc. (Nasdaq:BLT) and Dynamic Materials Corp. (Nasdaq:BOOM) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gulf Island Fabrication Inc. (Nasdaq:GIFI), Republic Airways Holdings Inc. (Nasdaq:RJET), Ship Finance International Ltd. (Nasdaq:SFL), Sandy Spring Bancorp Inc. (Nasdaq:SASR), Fisher Communications Inc. (Nasdaq:FSCI) and Clearwater Paper Corp. (Nasdaq:CLW).

The Russell 2000 (NYSE:IWM) closed down 11.85% today, snapping a string of five consecutive winning sessions with the worst daily loss of the year. Some of today’s small-cap gainers are Mentor Corp. (NYSE:MNT), Premiere Global Services (NYSE:PGI) and Telvent (Nasdaq:TLVT).

Other Market Watch highlights today included:

• The Russell is now down 46% for 2008, while the Dow is down 39% and the S&P 500 is down 44%.
• Credit market safe havens were the preferred outlet of choice today, as investors fled stocks and sought refuge in Treasuries.
• The market got off on the wrong foot today when manufacturing data out of China reflected a big drop in new orders.
• The ISM Manufacturing Survey came in at 36.2, which was below the 38 forecast, and which was also the lowest reading in 26 years.
• Sub-index data on prices paid was the lowest in 59 years and the new orders sub-index was the lowest since 1980.
• Energy, commodity stocks were major decliners today. Crude prices plunged 9.4% to $49.28/barrel, pulling down energy shares in the wash.
• Industrial, precious metals took a beating, platinum was down 7%, palladium down nearly 10%, silver off more than 8% and gold down some 5%.

Small Cap Gainers:

• The biggest mover today was Mentor Corp. (NYSE:MNT), as the maker of breast implants shot some 90% higher on news that the firm would be purchased by Johnson & Johnson (NYSE:JNJ) for $31 a share.
• Premiere Global Services Inc. (NYSE:PGI) rallied 29% as the on-demand . . .

Small-cap stocks may have finished out November like a lamb, but they started out December like a lion, sinking hard and fast today in an abrupt about-face from last week’s strong upward surge. Slumping manufacturing reports around the world triggered today’s rout and the only safe place to park money was in credit instruments as financial, industrial, retail and commodity markets were in retreat mode. The Russell 2000 (NYSE:IWM) closed down 56.05, or 11.85%, at 417.09, snapping a string of five consecutive winning sessions with the worst daily loss of the year. The Russell is now down 46% for 2008, while the Dow is down 39% and the S&P 500 is down 44%.

Credit market safe havens were the preferred outlet of choice today, as investors fled stocks and sought refuge in Treasuries – especially after Federal Reserve Chairman Ben Bernanke said that the Fed could buy long-dated Treasuries and that the economy remained under considerable stress. He also said that the Fed’s scope for reducing rates to stimulate growth was limited at this point, but that the U.S. economy was now better equipped to deal with the credit crisis. Yields on benchmark 10-year notes went wild, sinking more than 7% at one point during the day to about 2.7% as strong demand for notes lifted the price and slashed yields. Treasury Secretary Henry Paulson said that recent bailout moves were making progress, that banks should increase lending habits and that he has more programs developing to boost lending. He also said that mortgage rates have not come down as much as hoped and that Americans know the economy is in recession. The market extended the afternoon sell-off as he spoke.

The market got off on the wrong foot today when manufacturing data out of China reflected a big drop in new orders. China is the world’s hub for labor, with widgets assembled there and shipped out around the globe. Then, manufacturing reports out of Europe were dour, setting the stage for a startlingly bad report on manufacturing activity here in the United States. The ISM Manufacturing Survey came in at 36.2, which was below the 38 forecast, and which was also the lowest reading in 26 years. What’s more, sub-index data on prices paid was the lowest in 59 years and the new orders sub-index was the lowest since 1980. This is a heavy week for economic data, and today’s numbers clearly sent an icy shudder through the market. As the week progresses, we’ll see data on vehicle sales, services sector activity, factory orders and weekly claims as we head toward Friday’s big monthly employment release. What’s more, we’ll also have weekly and monthly retail sales numbers to pour over, . . .

Small-cap stocks extended the morning free fall, with financial, retail and commodity sectors all taking a beating as investors recoiled from a batch of brutal manufacturing data from around the world and fretted about the true eventual returns from this holiday spending season. Today's small-cap gainers are Premiere Global Services (NYSE:PGI), Emrise Corp. (NYSE:ERI) and VAALCO Energy (NYSE:EGY).

Today's Market Watch highlights included:

• Retail stocks were down today, with the S&P Retail Index at -5.7% despite early press reports that Black Friday was a success.  
• The Commodity Research Bureau Index of 19 physical markets was down 3.2% at midday.  
• The dollar was firm against the euro, which further played into the collapse in commodity markets.  
• Crude oil prices were down some 8% so far today, with U.S. crude benchmark values slipping through the $50 support line.

Small Cap Gainers:

• Shares of Premiere Global Services are up 30% after Oppenheimer & Co. upgraded the company to "outperform" from "perform." See (NYSE:PGI).  
• Emrise Corp. up 12% after receiving $1 million in new orders for in-flight entertainment products. See (NYSE:ERI).  
• VAALCO Energy up 11% on heavy volume. See (NYSE:EGY).  
• Nektar Therapeutics up about 10% on lower-than-average volume. See (Nasdaq:NKTR).

Small Cap Losers:

• China Valves Technology Inc. collapsed 79% on the China manufacturing woes, but it should be noted that this stock rarely trades much anyhow and was down on less than 1,000 shares trading today. See (Nasdaq:CVVT).  
• Russian steelmakers Mechel, TMK request a total of $3 billion in state loans to refinance their foreign debt. MTL is down 28.5%. See (NYSE:MTL).
• Excel Maritime Carriers dives 27% today following a downgrade last week from Cantor Fitzgerald to "sell" from "hold." See (NYSE:EXM).
• Gulf Island Fabrication Inc. tumbled 23% as the offshore drilling platform specialist was caught in the undertow of the slide in energy values. See (Nasdaq:GIFI).  
• Talbot's falls another 22% today following a widened Q3 net loss, conference call last week. See (NYSE:TLB).  

CPI International Inc. (Nasdaq:CPII), Janus Capital Group Inc. (Nasdaq:JNS) and Gulf Island Fabrication Inc. (Nasdaq:GIFI) are among the biggest percentage losers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: BancTrust Financial Group Inc. (Nasdaq:BTFG), Willbros Group Inc. (Nasdaq:WG), Textainer Group Holdings Ltd (Nasdaq:TGH), James River Coal Co. (Nasdaq:JRCC), Walter Industries Inc. (Nasdaq:WLT) and 1st Source Corp. (Nasdaq:SRCE).

Hooker Furniture Corp. (Nasdaq:HOFT), Bolt Technology Corp. (Nasdaq:BOLT) and Ariba Inc. (Nasdaq:ARBA) are among the biggest percentage losers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Brookfield Homes Corp. (Nasdaq:BHS), Transcat Inc. (Nasdaq:TRNS), Gulf Island Fabrication Inc. (Nasdaq:GIFI), Hutchinson Technology Inc. (Nasdaq:HTCH), Hercules Offshore Inc. (Nasdaq:HERO) and VisionChina Media Inc. (Nasdaq:VISN).

Here are the biggest percentage losers among small caps:

Gulf Island Fabrication, Inc. (Nasdaq:GIFI) CEO Kerry Chauvin said the Houma, La.-based company, a fabricator of offshore drilling and production platforms, said the company will be bidding most often on projects in the Gulf of Mexico. Chauvin made the comments during a Friday morning conference call with investors and analysts.

“There will be some deep water projects coming out — probably in the fourth quarter and first quarter of next year,” Chauvin said.

Gulf Island reported late Thursday that its second-quarter earnings rose 51% to $11.9 million, or $0.83 per share, versus $7.9 million, or $0.55 per share, a year earlier. The results beat Wall Street analysts’ estimate of earning $0.77 per share.

Quarterly revenue dipped 14% to $117.9 million, from $137.6 million a year ago. Wall Street anticipated revenue of $116.3 million.

For the third quarter, Wall Street analysts expect Gulf Island to earn $0.77 per share on revenue of $116.3 million.

At the end of the second quarter, Gulf Island’s revenue backlog totaled $437.7 million. For the remainder of 2008, CFO Robin Seibert said the company expects to recognize revenue of about $144.9 million from the backlog. For 2009 and going . . .

Investors looking to strike it rich with a play in oil have many avenues to explore, including the exploration sector itself, where they’ll find the likes of Gulf Island Fabrication Inc. (Nasdaq:GIFI).

Based in Houma, La., Gulf Island Fabrication is a leading builder of offshore drilling and production platforms, along with other structures needed to harvest oil and natural gas from deep under the sea.

Operating under four subsidiaries — Gulf Island LLC, Gulf Marine Fabricators, Dolphin Services LLC and Southport LLC — the company employs about 1,900, including 1,100 at its Louisiana facilities. Four of Gulf Island’s six fabrication yards are along the Houma Navigation Channel, about 30 miles from the Gulf of Mexico. The others are near Corpus Christi, Texas.

The company says demand for its goods and services is coming from operations in the Gulf, North and West Africa, Latin America, the Caribbean, the Middle East, offshore Canada and the North Sea. In 2007, deepwater projects accounted for 78% of revenue, and foreign destinations generated 24% of revenue.

Four analysts who follow Gulf Island Fabrication have a cautiously positive opinion, with three rating the stock a “hold” and another calling it a “strong buy,” according to Thomson Reuters. The 12-month median price target for Gulf Island is $39.50 — a level that the stock blasted through since its April 23 first-quarter earnings release. Shares closed Thursday at $43.46.

Gulf Island Fabrication posted blowout numbers for the three months ended March 31. Revenue climbed to $123.7 million, from $109.4 million a year earlier. Net income tripled to $13.4 million, compared with $4.4 million the year before, while earnings per share rose to $0.94, from $0.31. And the company pays quarterly dividends, now $0.10 a share.

The stock has seen a rapid rise since bottoming at a 52-week low of $24.88 on Feb. 1. Shares of Gulf Island Fabrication, which teased the $40 level in late 2006 and again last fall, have solidly crossed that threshold, hitting an all-time high of . . .

Integral Systems, Inc. (Nasdaq:ISYS), Cardionet Inc. (Nasdaq:BEAT) and Danvers Bancorp, Inc. (Nasdaq:DNBK) were among the new 52-week highs established during Monday's trading among companies with market capitalizations or values under $750 million.

Gulf Island Fabrication, Inc. (Nasdaq:GIFI), Zoll Medical Corp. (Nasdaq:ZOLL) and America's Car-Mart, Inc. (Nasdaq:CRMT) were also among the 52-week small-cap highs.

Here are Monday's 52-week small-cap highs:

With global energy demand expected to rise 54% by 2025, accompanied by increasing oil prices, Gulf Island Fabrication, Inc. (Nasdaq: GIFI) and Hiland Holdings GP, LP (Nasdaq: HPGP) are benefiting from increased oil exploration activity and production spending by oil companies.

Gulf Island Fabrication builds drilling and production platforms that enable offshore oil exploration by energy companies. The company also constructs specialized structures used in off-shore production, such as jackets and decks for fixed production platforms and hulls and decks used for floating platforms, production storage and offloading vessels, offshore living quarters and tankers and barges. In addition, Gulf Island Fabrication provides offshore oilfield services such as connecting pipelines, lifting platform sections to be integrated into offshore ships, loading and offloading drilling rigs and production hulls, warehousing cargo and other materials.

The company operates fabrication yards in Louisiana and Texas and serves oilfield customers working in the Gulf of Mexico, Africa, the Middle East and the North Sea.

During the first nine months of 2007, Gulf Island Fabrication’s revenues improved 57% year-over-year to $371.8 million from $236.2 million and net income jumped 27% year-over-year to $22.3 million, or $1.56 per share, from $17.6 million, or $1.27 per share. Net income grew more slowly than revenues because of pass-through and contract labor costs Gulf Island Fabrication plans to pass on its customers.

So far in 2007, the company has increased cash dividend 33% to a $0.90 annualized rate. The outlook for the fourth quarter is equally as favorable: Gulf Island Fabrication ended the September quarter with a revenue backlog of $245.2 million and a labor backlog of approximately 2.7 million man-hours. Analysts expect this company to produce 35% growth this year, 28% growth next year and longer-term growth averaging 26% annually. Given this growth outlook, these shares appear reasonably priced at a nine times P/E multiple. My $35 target for Gulf Island Fabrication is above the closing price of $25.35 on Tuesday. The stock has traded between $24.88 and $39.37 over the last 52 weeks.

The Russell 2000 (NYSE: IWM) is posting gains midway though the session, buoyed by earnings news. At 1:34 p.m. ET, the small-cap index had added 8.66 points, or 1.07%, to 814.77. The Dow Jones Industrial Average (INDU) was up 78.12 points, or 0.57%, to 13,750.04.

Trading began on a bullish note as investors responded to news that Microsoft Corp.’s (Nasdaq: MSFT) first-quarter earnings beat Wall Street’s projections. The Redmond, Wash.-based company posted a stunning 87% growth in its entertainment and devices segment, primarily due to strong sales of its video game “Halo.”

Meanwhile, Countrywide Financial Corp. (NYSE: CFC), the largest mortgage lender in the United States, said that it will return to profitability in the fourth quarter and outpace projections after taking a hit in the third quarter due to the meltdown in the subprime mortgage sector this summer.

In small-cap news, industrial products maker Graham Corp. (AMEX: GHM) increased its quarterly profit seven-fold, while Gulf Island Fabrication, Inc. (Nasdaq: GIFI) stumbled after missing analysts’ third-quarter profit expectations.

Elsewhere, the U.S. dollar has fallen to another all-time low against the euro. One greenback can now be exchanged for 0.695 of the currency adopted by 13 countries in the 27-member European Union. This morning the dollar was at 0.698 euros.

The weak dollar is contributing to another rise in the price of oil, which is denominated in the U.S. currency. A barrel of oil now costs $90.99, up $0.53. Earlier in the day the price of oil was closer to $92 a barrel.

Gulf Island Fabrication, Inc. (Nasdaq: GIFI) shares are dipping after the Houma, La.-based company’s announcement that its third-quarter profit was flat at $10 million, or $0.70 per share, below analyst estimates of $0.74 per share and compared with $10 million, or $0.72 per share, a year earlier.

The firm, which makes offshore drilling and production platforms, said its quarterly revenue rose to $124.9 million, from $89.7 million a year earlier. The cost of revenue increased to $106.9 million, from $72.8 million during the same period of 2006.

In midday trading, GIFI shares are down 1.76%, or $0.64, at $35.80. Over the last 52 weeks, shares have ranged from $25.95 to $40.24.